2023 City of Shakopee Budget

152

2023 Annual Budget

G.O. Tax Increment Revenue Bonds, Series 2022A $ 5,910,000 February 1, 2041

Fund: Issuance: Maturity:

Establishment:

The bond was issued for $10,000,000 and matures on February 01, 2041. $5,910,000 of the bond was issued to fund various public improvements including Highway 83 within the Tax Increment Financing District No. 18 (Canterbury Commons). $4,090,000 was issued for improvement projects related to 2020-2022 reconstructions projects, funded from the Capital Improvements Fund. The tax increment portion fully matures on February 1, 2041 and the improvement portion fully matures on February 1, 2033.

Key Measures:

Actual

Actual

Projected

Projected

2020

2021

2022

2023

Principal Remaining Interest Remaining

$ $

- -

$ $

- -

$ $

5,910,000 2,718,360

$ $

5,910,000 2,505,600

Cash Balances

$

-

$

-

$

-

$

51,155

Debt Remaining

Yearly Totals

- 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000

300,000

250,000

200,000

150,000

100,000

50,000

-

2020

2021

2022

2023

2020

2021

2022

2023

Principal

Interest

Principal

Interest

Fund Transfer

Cash Balances